Property Overview: 2872 Ness Avenue
Key Characteristics & Appeal
This well-situated one-storey home in Winnipeg's Booth neighbourhood presents a solid opportunity for a range of buyers. Its key appeal lies in a combination of generous space, a desirable location within its immediate area, and recent updates. The nearly 4,800 sqft lot is notably larger than most on the street (top 17%), offering ample outdoor potential. The living area of 1,325 sqft is also spacious for the street (top 11%), providing comfortable room for a family or those who value single-level living. A significant feature is the renovated basement, which adds valuable finished space.
The home’s strength is its strong positioning within its micro-location. It ranks highly on its own street for lot size, living area, and past sale price, suggesting it is one of the more substantial properties in the immediate vicinity. This makes it particularly suited for buyers who prioritize a larger, established lot in a mature neighbourhood over a newer build. It would appeal to first-time buyers looking for a move-in-ready home with a finished basement, downsizers seeking single-level living without sacrificing space, or investors noting the steady appreciation in assessed value from $24,000 in 2017 to $31,100 in 2023.
A less obvious perspective is the value of the detached garage, which offers flexibility for storage, a workshop, or parking separate from the house. Additionally, while the home is 61 years old, its recent basement renovation indicates proactive maintenance, a crucial factor for homes of this vintage.
Frequently Asked Questions
1. How does this home compare to others in the wider area?
While it ranks very well on its specific street for key metrics, rankings are more modest when compared to the entire neighbourhood or Winnipeg. This indicates you are getting a top-tier property for the immediate block, which may offer better value than a similar-priced home in a more uniformly high-ranking area.
2. What does the sale history tell us?
The home sold for $31,100 in mid-2023. The current assessed value is $28,400. This recent sale provides a clear, concrete benchmark for its market value just a year ago, which is often more reliable than assessment alone.
3. Is the lot size a major advantage?
Yes. At 4,796 sqft, the lot is significantly larger than many in the area. This allows for more privacy, gardening space, outdoor recreation, and potential for additions like a deck or shed, which are not always possible on standard city lots.
4. Who might this property not suit?
Buyers seeking a modern, newly built home with no renovation history may find the 1965 build date less appealing. Those whose priority is a home that ranks in the top tier across the entire city, rather than excelling on its own street, might also continue their search.
5. What are the implications of a detached garage?
A detached garage offers benefits like reduced noise and fire risk separation from the house. However, it requires going outside to access your vehicle, which can be a consideration during Winnipeg winters. It also presents potential for conversion to a studio or workspace, subject to local bylaws.